{"id":548871,"date":"2023-08-25T16:00:01","date_gmt":"2023-08-25T16:00:01","guid":{"rendered":"https:\/\/wncen.com\/?p=548871"},"modified":"2024-06-11T07:51:13","modified_gmt":"2024-06-11T07:51:13","slug":"shiba-inu-whale-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-whale-price\/","title":{"rendered":"Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price Recovery"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Shiba Inu community is buzzing with excitement after reports revealed that an anonymous whale had purchased a massive stash of SHIB tokens from the Gemini exchange in a single transaction.\u00a0<\/span><\/p>\n<h2>Mysterious Whale Makes Massive SHIB Purchase<\/h2>\n<p><span style=\"font-weight: 400\">A crypto whale has shocked the SHIB community and crypto space after purchasing 708.41 billion SHIB tokens worth almost $6 million from Gemini, an American crypto exchange run by the Winklevoss twins.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-shib-association\/\">Shiba Inu Burn Tracker Unveils SHIB Association, What Is It About?<\/a><\/div>\n<\/div>\n<p><span style=\"font-weight: 400\">The transaction was picked up by <\/span><a href=\"https:\/\/whale-alert.io\/transaction\/ethereum\/0x87367bad09898b4f3fc3fcab691ce86b5fe520743175c7b37096b4c4bf04e93b\" rel=\"nofollow\"><span style=\"font-weight: 400\">Whale Alert<\/span><\/a><span style=\"font-weight: 400\">, a prominent blockchain tracking system that reports when significant amounts of cryptocurrencies that could influence the market are moved or traded.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the report, the whale sent the SHIB they acquired to a crypto wallet address that had previously remained dormant until now. The funds were transferred in two separate transactions to the unknown wallet with the first transaction carrying 708 billion SHIB, while the second saw 1.2 million SHIB moved to the wallet address.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is not the first time that <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-whale-take-center-stage\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">whale activities within the SHIB ecosystem <\/span><\/a><span style=\"font-weight: 400\">have caught the attention of market participants, injecting a renewed sense of confidence within the community as investors prepare for a potential price recovery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is because of the likelihood that the recent massive SHIB purchases are attributed to the new developments brewing in the SHIB ecosystem. The first is Shiba Inu\u2019s layer 2 scaling solution, <\/span><a href=\"https:\/\/wncen.com\/shib\/shiba-inu-shib-rides-on-bullish-waves-as-shibarium-launch-nears-buy-now\/\"><span style=\"font-weight: 400\">Shibarium<\/span><\/a><span style=\"font-weight: 400\">, expected to launch publicly after undergoing several successful tests and configurations to improve its system\u2019s performance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">There is also the fact that SHIB burn rates are on the rise and new developments such as the <\/span><a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-shib-association\/\"><span style=\"font-weight: 400\">SHIB Association<\/span><\/a><span style=\"font-weight: 400\">, recently launched by a prominent Shiba Inu burn tracker Shibburn, in an effort to bolster the ecosystem.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/hzyUYUtS\/\" alt=\"Shiba Inu price chart from Tradingview.com (SHIB whale)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">SHIB price sees slight recovery | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSD on Tradingview.com<\/a><\/pre>\n<h2>Shiba Inu Ecosystem Thrives With Innovative Developments<\/h2>\n<p><span style=\"font-weight: 400\">While the SHIB community is still reeling from the whale announcement, reports have pointed to the Shiba Inu being one of the most active and trending cryptocurrencies in the crypto space at the moment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following the previous launch of the Shibarium mainnet, which is currently in private beta, the Shiba Inu ecosystem saw massive adoption and engagement, with <\/span><a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-shibarium-launch-wallet\/\"><span style=\"font-weight: 400\">over 10 million new wallets registered<\/span><\/a><span style=\"font-weight: 400\"> on the cryptocurrency platform.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/ark-invest-ethereum-futures-etf\/\">Cathie Wood\u2019s ARK Invest Joins Ethereum Futures ETF Race After Spot Bitcoin ETF Delay<\/a><\/div>\n<p><span style=\"font-weight: 400\">Shytoshi Kusama, Shiba Inu&#8217;s Lead Developer, has also said that the crypto platform is currently initiating the plans seen in the <\/span><a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-implementing-shibpaper\/\"><span style=\"font-weight: 400\">ShibPaper<\/span><\/a><span style=\"font-weight: 400\">. Kusama revealed that the ShibPaper contains all the future projects and strategies Shiba Inu will use to create a Shiba Inu State populated by \u201cShibizens\u201d, Shiba Inu state\u2019s citizens.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the price of SHIB has not reacted positively to this news as initially expected. The meme coin is currently trading at $0.000008062 at the time of this writing, down 3.17% and 4.06% on the daily and weekly charts, respectively.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Shiba Inu community is buzzing with excitement after reports revealed that an anonymous whale had purchased a massive stash of SHIB tokens from the Gemini exchange in a single transaction.\u00a0 Mysterious Whale Makes Massive SHIB Purchase A crypto whale has shocked the SHIB community and crypto space after purchasing 708.41 billion SHIB tokens worth almost $6 million from Gemini, an American crypto exchange run by the Winklevoss twins.\u00a0 Related Reading: Shiba Inu Burn Tracker Unveils SHIB Association, What Is It About? The transaction was picked up by Whale Alert, a prominent blockchain tracking system that reports when significant amounts of cryptocurrencies that could influence the market are moved or traded.\u00a0 According to the report, the whale sent the SHIB they acquired to a crypto wallet address that had previously remained dormant until now. The funds were transferred in two separate transactions to the unknown wallet with the first transaction carrying 708 billion SHIB, while the second saw 1.2 million SHIB moved to the wallet address. This is not the first time that whale activities within the SHIB ecosystem have caught the attention of market participants, injecting a renewed sense of confidence within the community as investors prepare for a potential price recovery.\u00a0 This is because of the likelihood that the recent massive SHIB purchases are attributed to the new developments brewing in the SHIB ecosystem. The first is Shiba Inu\u2019s layer 2 scaling solution, Shibarium, expected to launch publicly after undergoing several successful tests and configurations to improve its system\u2019s performance. There is also the fact that SHIB burn rates are on the rise and new developments such as the SHIB Association, recently launched by a prominent Shiba Inu burn tracker Shibburn, in an effort to bolster the ecosystem. SHIB price sees slight recovery | Source: SHIBUSD on Tradingview.com Shiba Inu Ecosystem Thrives With Innovative Developments While the SHIB community is still reeling from the whale announcement, reports have pointed to the Shiba Inu being one of the most active and trending cryptocurrencies in the crypto space at the moment.\u00a0 Following the previous launch of the Shibarium mainnet, which is currently in private beta, the Shiba Inu ecosystem saw massive adoption and engagement, with over 10 million new wallets registered on the cryptocurrency platform.\u00a0 Related Reading: Cathie Wood\u2019s ARK Invest Joins Ethereum Futures ETF Race After Spot Bitcoin ETF Delay Shytoshi Kusama, Shiba Inu&#8217;s Lead Developer, has also said that the crypto platform is currently initiating the plans seen in the ShibPaper. Kusama revealed that the ShibPaper contains all the future projects and strategies Shiba Inu will use to create a Shiba Inu State populated by \u201cShibizens\u201d, Shiba Inu state\u2019s citizens.\u00a0 However, the price of SHIB has not reacted positively to this news as initially expected. The meme coin is currently trading at $0.000008062 at the time of this writing, down 3.17% and 4.06% on the daily and weekly charts, respectively. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":548874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,89178,84473,87078,83667,89157,86781,84562,84558,14781],"class_list":["post-548871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-news","tag-shib-price","tag-shib-whale","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-whales","tag-shibusd","tag-shibusdt","tag-whales"],"acf":[],"yoast_head":"\n<title>Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price Recovery<\/title>\n<meta name=\"description\" content=\"The Shiba Inu community is buzzing with excitement after reports that an anonymous whale had purchased a massive stash of SHIB tokens.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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